Commissions
North America
Our Fixed pricing for stocks, ETFs (Exchange Traded Products, or ETPs) and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and most regulatory fees with the exception of the transaction fees, which are passed through on all stock sales. In the event that IB receives a rebate for executing a trade in a Regulation NMS stock at a market-maker, dark pool, or with a liquidity provider in the IB ATS, IB will pass the full amount of that rebate to Fixed-commission customers as a commission discount.
United States 6
| Fixed | Minimum Per Order | Maximum Per Order |
|---|---|---|
| No Transaction Fee ETFs | USD 0.00 | USD 0.00 |
| USD 0.005 per share | USD 1.00 | 1.0% of trade value 1, 7 |
| Example
100 Shares @ USD 25 Share Price = USD 1.00 1,000 Shares @ USD 25 Share Price = USD 5.00 1,000 Shares @ USD 0.25 Share Price = USD 2.50 |
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US API Directed Orders 3
| Value | Fixed | Minimum Per Order | Maximum Per Order |
|---|---|---|---|
| All | USD 0.0075 per share | USD 1.00 | 1% of trade value 1 |
| Example
500 Shares @ USD 25 Share Price = USD 3.75 |
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DARK
| Remove Liquidity | Add Liquidity | |
|---|---|---|
| Directed orders | N/A 4 | N/A |
| Smart-routed orders9 | Variable (see note) | N/A |
IBKRATS
| Remove Liquidity | Add Liquidity | |
|---|---|---|
| Directed orders | N/A 4 | Normal commission applies |
| Smart-routed orders10 | Variable (see note) | Variable (see note) |
CSFB ALGO, CSFB PATH, JEFFALGO and FOXRIVER ALGO
| Fee |
|---|
| Normal commission applies plus USD 0.0010 per share |
Transaction Fees
| (Stocks, ETF, Warrants, Rights, Voting Trust Certificates) | USD 0.0000051 * Value of Aggregate Sales |
| FINRA Trading Activity Fee | USD 0.000119 * Quantity Sold 8 |
Trade Allocation Minimum Commissions
We charge a minimum commission for US stock trades allocated by Advisors and Brokers to their clients. Advisors and Brokers can choose to charge the allocation minimum fee to their master account or to the client account. By default, the allocation minimum is charged to the client account unless there is a specific rate arrangement between the client and the master account.
| US Stocks | Minimum (trade value * 0.0005, USD 1) | ||
| Example 1
100 Shares executed at a price of USD 100.00 allocated to two accounts (50/50): Allocation Size = 50 Trade Value Per Allocation = USD 5,000 Minimum (5000 * 0.0005, USD 1) = Minimum (2.5, 1) New Total Fixed Commission Per Allocation = 1.00 |
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| Example 2
100 Shares executed at a price of USD 24.00 allocated to two accounts (50/50): Allocation Size = 50 Trade Value Per Allocation = USD 1200 Minimum (1200 * 0.0005, USD 1) = (0.6, 1) New Total Fixed Commission Per Allocation = 0.60 |
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Canada
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| CAD 0.01 per share | CAD 1.00 | 0.5% of trade value 1, 2 | |
| USD 0.08 per share | USD 0.80 | 0.5% of trade value 1, 2 | |
| Example
100 Shares @ CAD 25 Share Price = CAD 1.00 |
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Mexico
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| MXN 0.1% of trade value | MXN 60.00 | N/A | |
| Example
700 Shares @ MXN 100 Share Price = MXN 70.00 |
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Notes:
- Plus the applicable exchange, ECN and/or specialist fees based on execution venue.
- For orders that are immediately executed against an existing bid or offer on the exchange's order book, an exchange liquidity removing fee will be added. See the Tiered North America section for details of the exchange fees.
- This charge does not apply to relative, pegged to market and pegged to midpoint orders.
- Directed orders to IBKRATS that are marketable will generally be rejected.
- Transaction fees are only charged for sell orders.
- Includes NMS, OTCBB, NextShares and Pink Sheet Stocks.
- In the event the calculated maximum per order is less than the minimum per order, the maximum per order will be assessed. For example, a purchase to buy 10 shares of a $0.20 stock will be charged $0.02 (10 shares x 0.005/share = 0.05 commission, minimum 1.00 per Order, capped at 10 shares x 0.20 x 1% = 0.02).
- Maximum USD 5.95 per trade. In the case of partial executions, each execution is considered one trade.
- In the event IBKR receives a rebate from a liquidity provider, the full rebate will be passed through in the form of a reduction to the standard U.S. Stock commission. Should IBKR receive no rebate on the execution, standard U.S. Stock commissions will apply.
- In the event your order crosses another IBKR Client order, the standard U.S. Stock commission minus 0.0007 per share will be charged. In the event IBKR receives a rebate from a liquidity provider, the full rebate will be passed through in the form a reduction to the standard U.S. Stock commission. Should IBKR receive no rebate on the execution, standard U.S. Stock commissions will apply.
- Commissions apply to all order types.
- All exchange fees are included.
- For clients who send an extraordinary number of non-marketable limit orders to the NYSE, and who route such orders direct to NYSE, rather than using IB Smart routing, IB reserves the right to impose a surcharge in order to defray specialist order handling charges. In this event, IB will provide notice to affected clients.
- VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
- Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
- A minimum commission of 0.01 per trade is assessed to fractional shares trades.
Europe
Our Fixed pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.
All Stock and ETF orders executed with IB SmartRoutingSM on venues in Belgium, France, Germany, Spain, Italy, Netherlands,
Switzerland, United Kingdom
| Fixed | |||
|---|---|---|---|
| EUR-denominated3 | EUR 3.00 for trades up to EUR 6,000 | 0.05% of trade value for trades over EUR 6,000 | |
| GBP-denominated | GBP 3.00 for trades up to GBP 6,000 | 0.05% of trade value for trades over GBP 6,000 | |
| CHF-denominated | CHF 5.00 for trades up to CHF 10,000 | 0.05% of trade value for trades over CHF 10,000 | |
| USD-denominated4 | USD 4.00 for trades up to USD 8,000 | 0.05% of trade value for trades over USD 8,000 | |
| Example
EUR-denominated: 75 Shares @ EUR 80 Share Price = EUR 3.00 GBP-denominated: 150 Shares @ GBP 40 Share Price = GBP 3.00 CHF-denominated: 200 Shares @ CHF 50 Share Price = CHF 5.00 USD-denominated: 250 Shares @ USD 32 Share Price = USD 4.00 |
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Austria
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| All | 0.1% of trade value | EUR 4.00 | None |
| Example
100 Shares @ EUR 40 Share Price = EUR 4.00 |
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Baltic Region (Estonia, Latvia, Lithuania)
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| All | 0.2% of trade value | EUR 10.00 | None |
| Example
100 Shares @ EUR 50 Share Price = EUR 10.00 250 Shares @ EUR 25 Share Price = EUR 12.50 |
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Belgium
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| Direct Routed | 0.1% of trade value | EUR 4.00 | None |
| Example
100 Shares @ EUR 40 Share Price = EUR 4.00 250 Shares @ EUR 25 Share Price = EUR 6.25 |
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France
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| Direct Routed | 0.1% of trade value | EUR 4.00 USD4 6.00 |
None |
| Example
100 Shares @ EUR 40 Share Price = EUR 4.00 250 Shares @ EUR 25 Share Price = EUR 6.25 200 Shares @ USD 30 Share Price = USD 6.00 |
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Germany
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| SWB, SWB Warrants | 0.12% of trade value | EUR 6.00 | None |
| GETTEX - Stocks and Warrants | 0.05% of trade value | EUR 1.25 | None |
| Other Direct Routed Orders | 0.1% of trade value | EUR 4.00 | None |
| Example
SWB: 100 Shares @ EUR 50 Share Price = EUR 6.00 400 Shares @ EUR 15 Share Price = EUR 7.20 GETTEX - Stocks and Warrants: 100 Shares @ EUR 25 Share Price = EUR 1.25 500 Shares @ EUR 12 Share Price = EUR 3.00 All Other Direct Routed: 100 Shares @ EUR 40 Share Price = EUR 4.00 |
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Hungary
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| All | 0.1% of trade value | HUF 200 | None |
| Example
800 Shares @ HUF 250 Share Price = HUF 200.00 1,000 Shares @ HUF 300 Share Price = HUF 300.00 |
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Israel
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| All | 0.1% of trade value | ILS 15 | None |
| Example
200 Shares @ ILS 75 Share Price = ILS 15.00 |
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Italy
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| Warrants & Structured Products | 0.1% of trade value | EUR 6.00 | None |
| Other Direct Routed Orders | 0.1% of trade value | EUR 4.00 | None |
| Example
Warrants & Structured Products: 120 Shares @ EUR 50 Share Price = EUR 6.00 150 Shares @ EUR 60 Share Price = EUR 9.00 All Other Direct Routed Orders: 100 Shares @ EUR 40 Share Price = EUR 4.00 250 Shares @ EUR 30 Share Price = EUR 7.50 |
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Netherlands
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| Direct Routed | 0.1% of trade value | EUR 4.00 USD4 6.00 |
None |
| Example
100 Shares @ EUR 40 Share Price = EUR 4.00 250 Shares @ EUR 25 Share Price = EUR 6.25 120 Shares @ USD 50 Share Price = USD 6.00 |
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Norway
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| All | 0.05% of trade value | NOK 49.00 | None |
| Example
100 Shares @ NOK 50 Share Price = NOK 49.00 1,000 Shares @ NOK 150 Share Price = NOK 75.00 |
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Poland
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| All | 0.1% of trade value | PLN 15.00 | None |
| Example
200 Shares @ PLN 75 Share Price = PLN 15.00 500 Shares @ PLN 55 Share Price = PLN 27.50 |
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Portugal
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| All | 0.15% of trade value | EUR 6.00 | None |
| Example
100 Shares @ EUR 50 Share Price = EUR 7.50 |
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Spain
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| Direct Routed | 0.1% of trade value | EUR 4.00 | None |
| Example
100 Shares @ EUR 40 Share Price = EUR 4.00 |
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Sweden
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| SEK-denominated | 0.05% of trade value | SEK 49.00 | None |
| EUR-denominated | 0.10% of trade value | EUR 4.00 | None |
| Example
100 Shares @ SEK 50 Share Price = SEK 49.00 |
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Switzerland
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| USD-denominated ETFs, Warrants & Structured Products | 0.1% of trade value | USD 10.00 | None |
| Other Direct Routed Orders | 0.1% of trade value | CHF6.00 EUR 4.00 GBP 6.00 USD4 6.00 |
None |
| Example
120 Shares @ CHF 50 Share Price = CHF 6.00 100 Shares @ EUR 50 Share Price = EUR 5.00 240 Shares @ GBP 25 Share Price = GBP 6.00 100 Shares @ USD 60 Share Price = USD 6.00 |
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United Kingdom 1, 2
| Fixed | Minimum Per Order | Maximum Per Order | |
|---|---|---|---|
| Direct Routed | 0.1% | GBP 4.00 EUR 4.00 USD4 6.00 |
None |
| Example
100 Shares @ GBP 40 Share Price = GBP 4.00 500 Shares @ GBP 15 Share Price = GBP 7.50 80 Shares @ EUR 50 Share Price = EUR 4.00 100 Shares @ USD 60 Share Price = USD 6.00 |
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Notes:
All exchange and regulatory fees are included in IB’s charges, except as noted below.
- Stamp taxes, where applicable, are passed through to the client (UK@0.5%, IE@1%, CH@0.15%).
- IB is required to charge the Panel of Takeovers and Mergers Levy of GBP 1.00 on all orders over GBP 10,000 on shares of companies registered in the United Kingdom, Isle of Man or Channel Islands.
- Euronext (FR/NL/BE) – EUR 0.75 per execution exchange fee passed through on ETF products only.
- USD-Denominated products traded on the listed European venues.
- Commissions apply to all order types.
- VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
- Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.
- Certain French, Italian and Spanish stocks are subject to National Transaction Levies that are assessed and passed through to client.
Asia-Pacific
Our Fixed pricing for stocks, ETFs and warrants charges a fixed amount per share or a set percent of trade value, and includes all IB commissions, exchange and regulatory fees.
Australia5
| Tier | Fixed | Minimum Per Order | Maximum Per Order |
|---|---|---|---|
| All | 0.08% of trade value | AUD 6.00 | N/A |
| Example
400 shares@ AUD 50 Share Price= AUD 16 |
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Hong Kong 1,2
| Tier | Fixed | Minimum Per Order | Maximum Per Order |
|---|---|---|---|
| SEHK Stocks | 0.08% of trade value | HKD 18 | N/A |
| SEHK Warrants, Structured Products | 0.08% of trade value | HKD 10 | N/A |
| Shanghai-Hong Kong Connect and Shenzhen-Hong Kong Connect Stocks | 0.08% of trade value | CNH 15 | N/A |
| Example
400 shares@ HKD 70 Share Price= HKD 22.40 |
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India 3,4
| Product | Standard | Minimum | Maximum |
|---|---|---|---|
| Stocks4 | 1 bps | INR 6 | INR 20 |
Japan
| Tier | Fixed | Minimum Per Order | Maximum Per Order |
|---|---|---|---|
| All | 0.08% of trade value |
JPY 80 |
N/A |
| Example
100 Shares @ JPY 10,000 Share Price= JPY 800 |
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Singapore
| Tier | Fixed | Minimum Per Order | Maximum Per Order |
|---|---|---|---|
| All | 0.08% of trade value |
SGD 2.50 USD 2.00 HKD 14.50 GBP 1.40 EUR 2.00 |
N/A |
| Example
100 Shares @ SGD 50 Share Price= SGD 4 |
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Notes:
- For stocks, warrants and structured products traded on the SEHK, government stamp duty (0.13% rounded up to the nearest 1.00 for SEHK stocks, normally applies only to stocks) and SFC transaction levy (0.0027%, normally applies to stocks and warrants) will be passed through to all clients regardless of commission model. Click here for SEHK shares.
- For stocks traded on Shanghai-Hong Kong Connect and Shenzhen-Hong Kong Connect, all external costs will be passed through to clients regardless of commission model. This includes exchange trading fees, clearing fees and government stamp duty. Click here for the fee schedule for Shanghai-Hong Kong Connect and Shenzhen-Hong Kong Connect shares.
- Stocks on the NSE are only available to Indian residents.
- Up to per order value of INR 1,000,000. Portion of order above INR 1,000,000 will be charged 2 bps.
- For all products which are exclusively traded on Chi-x Australia IBKR will not monitor and provide clients with notice respecting changes to the underlying instrument throughout its lifecycle, including but not limited to, potential stop loss or strike events. The client has full responsibility for monitoring for changes to any such underlying instruments and for making independent investment decisions in response. In addition, IBKR will not review any documentation relating to any of these products, and it is the responsibility of the client to fully understand the operational impact of these products and their behavior. Clients should obtain their own professional legal or financial advice, if required.
- All exchange and regulatory fees are included, except where noted above.
- Commissions apply to all order types.
- VAT, also referred to as consumption tax, goods and services tax, where applicable, will be separately applied for eligible services.
- Modified orders will be treated as the cancellation and replacement of an existing order with a new order. On certain exchanges, this may have the effect of subjecting modified orders to commission minimums as if they were new orders. For example, if an order for 200 shares is submitted and 100 shares execute, then you modify the order and another 100 shares execute, a commission minimum would be applied to both 100 share orders. Orders that persist overnight will be considered a new order for the purposes of determining order minimums.